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Jun 29, 2013 7:00pm PDT
,000 reduction, we will start a year on the deficit spending. and whether that will be directed during the year, as the people leave when we do not hire people and there are vacancies that remains to be seen. >> okay. >> supervisor weiner? >> i don't think that they will be obligated to do a supplemental and if we think that they are going to need the salary, and we should appropriate it, because what will happen is that in the nine months out or however, they are going to come back and no one is going to remember when and it will look like they want more money and no one did a good job and it was really a board that cut that budget. it is a question if they need the money or not. >> okay, folks, supervisor breed? >> my biggest problem is i just don't understand, i just don't understand what that means. it just does not make any sense to me. and i'm looking at this report, and i have reviewed the report, and i feel like the budget analyst is saying, one thing that i do understand, and the da's office is saying something that i don't understand. and it makes sense in terms of what the projection
Jul 1, 2013 4:00pm PDT
a deficit. we still have a deficit in the budget. this year coming $123 million, and the second year in the budget covering 2014/15 has 56 million deficit. we are not out of woods. but these numbers are better than $500 million and $700 million budget deficits that we used to have a few years ago. our city is doing better. we are concerned about how to fulfill that deficit. but we are also concerned about what is happening to seniors, what is happening to youth. what is happening to families. our open space. our small businesses. our environment. we are all concerned about that as well. of course i must say about our housing authority as well. so we are taking on a lot of responsibility and because we are and because we are very busy doing the work we are. sometimes we need your input to steer us in the right direction for what things you think are important. so we are open to that. and we want to hear from you tonight. enough speeches. let's get on with it. may i have a couple words from supervisor avalos and farrell. >> thank you. thank you mayor lee, and yes, i get to make a speec
FOX Business
Jul 4, 2013 4:00pm EDT
cut, the more unemployment it has, a recovery is worth the deficit. >> i bit he agrees with paul krugman and thinks that more government spending will help an economy even though is did not work for hoove and roosevelt in the 30s, not for japan in 90s not for bush in 2008, not fo oba in 2009, it never worked anywhere. john: people believe it. >> politicians love the theory. it tells them their advice hav is a virtue. >> they like to spend. yeah, i am with you, i wil be first in line. line. >> any good examples? any coury that has done it right. >> i just go the back from europe, got off the plane today, came here because this show is the best place to be, the baltic countries. estonia, they have done the righ thing, they cut government spending i say cut, i am not talking about washington thing, we increase spending at 6% instead of 8%. no, in battle tick countries -- battle ticbaltic county its was. >> those economies are growing? >> t are growing, they recovered, jobs are coming back, they have positive gtp, economy growth, while the country that have gone with the tax increase
Jun 30, 2013 3:00pm PDT
holding these community meetings, we had some significant budget deficits. and in years past they were even worse. now we've come through a lot of that and i'm thankful to all the department heads that are here because they worked very hard to work with me to find all the efficiencies, to make sure we balance that budget. clearly, the members of the board of supervisors and today we're focused on districts 1 and 4, but i want to thank supervisor mar, supervisor tang, and supervisor farrell for providing their leadership at the board because we can only make it work if the mayor and the board work together. but most importantly, we've got to listen carefully to our residents. and i want to begin by saying this has been a pretty intense week for all of us. you know, we all watched together the horrifying events that happened in boston. they don't follow too long from what happened in connecticut. and i just want you to know that i think i watched a lot with you about what transpired and i'm very glad that we're investing in our law enforcement, but we also have to invest in education. we
Jun 30, 2013 4:00pm PDT
. as was mentioned before, we have a $123 million budget deficit heading into next year. but we're all committed as a budget here to you and everyone in san francisco that we will have an open and transparent process, that we will manage our finances in a very fiscally responsible manner going forward, and that our budget that comes out will reflect the priorities of all people who live here in san francisco. i commit that to you and i look forward to a long process and coming in july having a budget that, again, reflects all of our priorities together. so, thank you for being here today. (applause) >> there are actually a number of other people that i think had signed cards, but i'll make sure that any of the questions and comments that people wrote on the cards are given to kate howard and leo and the budget office so that they're integrated into the budget process. i also want to thank everyone for the very thoughtful comments. also, if anyone has any questions or comments for the budget process, please fill that out in the cards and we'll make sure it gets integrated. for my role on the budg
Jul 1, 2013 7:00am EDT
it confusing. so when george said to the other george, well, there's something you need to know. the deficit this year is going to be a lot bigger than we expected. it's not nine or 10%, its 13 or 14% of gdp. the finance minister just took this job, just one election, he asked are you sure? are you sure? because suddenly they felt their be able to enacted after winning these elections was not going to be possible, is going to be a time of austerity and budget-cutting rather than doing new things. the european crisis i think it's a challenging was an american to understand because the political context in europe is messy and different. what we saw over and over is the ecb in brentford is the unified central bank, it works very effectively not unlike the federal reserve of the government and a 17 governments in the euro zone, that create some very trying times. i remember when i but in the world was worrying about what slovenia was going to be. slovenia say country of 3 million people. if department did not approve it in those what could have resulted? we're all waiting on slovenia. if you thi
Jun 29, 2013 4:30am PDT
the last 5 years the medical examiner has afrmgd a deficit in salary costs. the deficit is slightly lower because of the delay between separation and the hiring has loefrd the salary costs. but we're actively recruiting to fill the medical examiners positions and that's the national association of medical. we ask i regret those cuts to maintain a staff. as for the equipment that's open our list we're aware well, i think it was a policy decision before the board the vehicle replacements were part of our budget to replace those 12 years and older. we have to take take into consideration the maintenance and the fuel and economy of the vehicle. we're totally in support of those decisions. thank you and if you have any questions i'm here to answer >> ms. kelly the only conflict between our office and the other office is regarding the medical examiner positions. >> that's correct. >> i see at least in the previous report about a half of year can you talk about the implementation if not funded. >> the implementations is really again we'll lose >> we're going having a instant turnover. where
Jun 30, 2013 9:00pm EDT
was -- building schools program. that is the mess we inherited, as well as a record deficit. but it is this government that is providing half a minute extra school laces. -- places. another one. in october 2000 11, he said he wanted to bring forward "every single infrastructure project in the pipeline." how many have been completed? >> let me give him the figures for infrastructure spending. our annual infrastructure investment is 33 billion pounds per year. that is 4 billion more every year than ever achieved under labour. now let me give him the figures for road schemes. we are investing more in major road schemes -- >> the answer from the prime minister must be heard. him fromions to whichever side of the house must be heard. it is very clear. it is very simple. it is called democracy. the prime minister. >> how many of the schemes have been completed? you cannot build a nuclear power station overnight. they had 13 years. they did not build a single one. now let me give him the figures. electrifyingnt is more than 300 miles. perhaps he can tell us how many were electrifie
FOX Business
Jul 3, 2013 11:00am EDT
force and the u.s. trade deficit unexpectedly widened in may. sluggish abroad slowed to $45 billion. that's a 12% jump from april and marks the biggest month-to-month increase in two years. that's the latest from the fox business network, giving you the power to prosper. [ male announcer] surprise -- you're having triplets. [ babies crying ] surprise -- your house was built on an ancient burial ground. [ ghosts moaning ] surprise -- your car needs a new transmission. [ coyote howls ] how about no more surprises? now you can get all the online trading tools you need without any surprise fees. ♪ it's not rocket science. it's just common sense. from td ameritrade. cheryl: we'll show you incredible pictures out of cairo, egypt. we're continuing to follow this very tense situation. the deadline, 41 minutes ago. president morsi is refusing to step down. the military threatening to intervene and take over control of the country. about 20 minutes ago we were told reports that the military leaders have entered the main tv station in cairo and there could be a statement coming in the next f
Jun 30, 2013 7:30pm EDT
with the deficit. the only way you're going to do that is bipartisan compromise. we need an immigration bill. we need a tax reform that lets us raise the revenues we need, and be competitive. we need to reform medicare and social security. so we need more, and we need more action from congress and the executive branch. >> in terms of the fiscal policy. why is it so -- i mean, you're a business guy first. but you were in government, you know how it works. how is it so difficult to get tax reform going and an immigration agreement? >> well, to me, that's really the question. i think the fed has been asked to do a lot, because, you know, the rest of the government is doing very little. frankly. and so we need some of these other things. and we have to win challenges. and they go together. and they are the need for more growth, and for more actions to deal with, with the debt problem, with the deficit. >> a lot of people would like to see mortgages move to the private sector. it's still 90%? of mortgages are issued by fannie and freddie? >> yeah. at the time of the crisis, i think the we did that wa
Jul 2, 2013 7:00pm PDT
to struggle with a huge deficit. tepco posted more than $6.8 billion in losses for the year through march. the firm must return to the black by march next year in order to receive taxpayer money and bank loans to rebuild its finances. it says by operating just one reactor, it can cut fuel costs by about $10 million a month. >>> delegates from around 120 countries say they must do more to protect nuclear facilities from terrorist attacks. they have agreed tosecurity gui the international atomic energy agency. they hosted a meeting in vienna, austria. it's the first such event to focus on nuclear security. >> if a dirty bomb is detonated in a major city or sabotage occurs at a nuclear facility, the consequences could be devastating. the threat of nuclear terrorism is real. >> the delegates adopted a declaration, pledging to follow the iaea's nuclear security guidelines. they also agreed to minimize the use of highly enriched uranium. the material can be made into nuclear weapons. authorities say they're also concerned about terrorists getting hold of radioactive materials in hospitals and f
Jun 28, 2013 5:00pm PDT
of trains and equipment. >> our members paid back 100 million because the district says we're in a deficit. there was no deficit. the following year, there was a surplus. >> there's $125 million per year for the next ten years. who do you trust? they lied to us in '09. they're lying to us now. >> if the talks stall, so will trains. riders say all they want is -- >> b.a.r.t. isn't really a city, so i think that's going to be a lot of chaos. >> i need b.a.r.t. i hope it settles. >> other transit agencies like cal train, going to try and help out monday if the strikes do go through, but ap transit is facing a strike of its own. b.a.r.t. encouraging people they're going to have limited bus service during peak commute hours, but that can only serve 2 to 4,000 people each day, so encouraging you to car pool and if you to that, each one of our 33 stations parking lots is open and free for you to use. >> thank you. we're going to get back to our breaking news. we've been following the story at san francisco city hall. gay marriages are resuming now after the stay was lifted just a couple of hours
Jun 29, 2013 9:30am PDT
of deficit. we have a deficit this year; so many times that is part of the process. we never try to close a position. we also have new testing exams that take a long time for dhr to develop so it is basically timing issue of trying to get all the positions in line and getting them open. at times we have an open req and positions get frozen and we have to go through the whole process all over again. >> supervisor breed: is there not a need for this position? >> yes there is that we have a negotiation with the budget analyst and we clearly see that after two years we would have to let the position go. >> supervisor breed: and -- were you in the process of hiring or trying to fill that particular position? >> that position would be over 100-200 positions, clearly every position is important but some of them take a lot more time to get hired. >> supervisor breed: what are we talking about in terms of timing? >> depends on where it is in the process, we have to open it again and go through the mayor's requisition process and dhr; it could take another 6-8 months. >> supervisor farrell
Jun 29, 2013 11:30am PDT
. and i don't understand how you are approaching the coming fiscal year in a budget deficit when you are starting from the beginning and you are operating at full staffing and what is budgeted at the appropriate steps and the appropriate benefits are to meet the needs of of course, the existing staff. understanding that potentially people retire and find other jobs and there are costs associated with maybe a pay out which from my understanding that has been accounted for. and but i don't understand, i don't understand anything other than that. >> and i appreciate the points that you are raising. the concern that we have is that we are going into a budget that we know that if we have no salary savings, we would be at a deficit, right? i don't believe that that is a good business model. >> so it is salary savings. >> it is 270 would entail that as people leave, that we would not be backfilling certainty, two positions and whether at that time of year that will occur. and the one of the things that we try to do is that we try to perhaps reach an agreement that we met somewhere in the mi
Jun 30, 2013 7:30am PDT
the expenditure growth and we become closer to getting rid of that deficit that we have had for a couple of years. this is actually, it may be heard to interpret these numbers but these are much more encouraging than the equivalent numbers that we have shown on the same evening the last few year when we look at the projections over two or three years. it has been sort of horrifying. so the fact that we can see and are beginning to rely on this revenue growth from the lcsf that is of course going to be subject to the state keeping their commitments and t economy recovering as it is expected to do. and prop 98 growing as it is expected to do if all of that stays on track, then we will expect to see the revenue trajectory that is shown here. and you can see that that structural deficit is in that middle of that line revenue is less expenditures and we expect that for next year that that starts to narrow. and hopefully go away, the following year. so if the last slide just restates some of what commissioner wynns reported out that we do know that there are several juicy topics, this is not an exhaust
FOX Business
Jun 27, 2013 5:00pm EDT
-term issue with the size of the deficit. melissa: it is that rewarded for long-term thinking so that makes it sound like that is the problem. >> the real problem is they wait until they get to the actual crisis? fortunately the politicians have overreacted. but that didn't happen. it is the same and the problem for the country is in greece everything was fine. >> interest-rate will spike in the currency of the system. because the economy is doing better because of deficit is near 1 billion that is not a good number and is simply we have to get this in balance but just to put it get it 10 year program and hopefully we can press for that. melissa: does the fed get out clean? >> the issue for the government just like the deficit to slow walk out of this expansionary policy. behalf to be careful in they have to do do it cautiously over a period of time. so they have a tough job on their hands but the solution just like the deficit will be a five or seven year plan to smooth it out to get where it was. melissa: he also said the chief energy would fuel manufacturing and a savior to the economy.
Jun 27, 2013 10:00am EDT
and irrational cuts by replacing the sequester in its entirety as part of a big and balanced solution to deficits. now, we had a deal. it was called the budget control act. o.m.b. now estimates it cut $1.4 trillion. it's not as if we ignored the deficit. $1.4 trillion. but we didn't get all the way to where the speaker said we needed to be, and therefore we adopted the sequester. which irrationally cuts congressional record -- across-the-board the highest priority and lowest priority. our ranking member on the budget committee, the democrat, chris van hollen, has tried seven times to bring to this exactly slation to modify this policy so we had a rational national security protecting, vulnerable citizens protecting alternative while saving and getting to the same budget deficit reducing number. the same. however, our republican colleagues have refused the opportunity to consider that on this floor. we hear a lot about the speaker saying let the house work its will. seven times, seven times we have asked this house leadership to give us the opportunity to work our will. the best way to achieve th
Jul 1, 2013 12:00am EDT
of the future program. that is the mess we inherited, as well as a record deficit. but it is this government as the chancellor will announce in a minute that are providing half a million extra school places. >> i don't think he knew the answer to that one, mr. speaker. let's try another one. in october 2011 he said he wanted to bring forward and again i quote from the prime minister, every single infrastructure project that is in the pipeline. so out of 576 projects set out in that plan, how many have been completed? >> let me give him the figures for infrastructure spending. our annual infrastructure investment is 33 billion pounds a year. that is 4 billion more every year than ever achieved under labour. now let me give them the figures for both schemes. we are investing more in major road schemes in each of the first -- >> order. the answer from the prime minister must be heard, and questions to him from whichever side of the house must be heard. it's very clear, very simple. it's called democracy. the prime minister. >> mr. speaker, he asked the question how many of the schemes have been
FOX Business
Jun 28, 2013 3:00pm EDT
it more difficult to fund those deficits. the currency of which country has fallen the most? those that run a large deficit india, brazil. but that they have the deficit over the last decade with easier liquidity flowing from the u.s. but now that the institutions are risk averse the central bank will think about tapering down and what is going on line is the liquidity to perform. cheryl: and the contrary in in me says it is said great time to buy with the atf. >> it is not a great time for passive investing in the emerging market. you have to pick your spot. 80 percent of the population are 35 percent of the global economy and they are diverse countries with different cycles and this is generalized but i think it is the wrong thing to do. the last decade the rising tide of global liquidity lifted all the markets but that is running out and now you have to pick your spot. cheryl: i know you have the book and i will say this that morgan stanley is the investment firm and a bank out in active in the markets. head of emerging markets of course, for morgan stalemate thank you for being
Jun 27, 2013 4:00pm EDT
today, a deficit widening out and starting to converge, the energy picture, what that means for manufacturing the country, how much liquidity there is. you look at a lost these elements and say, my gosh, these conditions are ripe. i think this is a very good market. on the other hand you look at sentiment. that is not shocking. very big trauma. very recent. but the fact of the matter is we've chewed through a lot of problems. some of them are still there. just think, what have we been talking about a year ago? gosh, is italy -- is portugal and italy, greece, u.s. losing its rating. budget deficits growing out to the lines, never converging. and then you compare to where we are today. i'm in the risk management business. i can sit here for three hours and tell you and i wouldn't be done telling you all of the things i'm worried about. but if you ask me what i think is likely, we muddle through and we are muddling through and we are part of the cycle. >> what about the federal reserves impact here. we are talking about the implications of central banks monetary policy. beginni
Jul 4, 2013 8:00pm EDT
. it's a deficit. it's a part of your brain that is not working properly. it is nothing you would wish upon a child and yet in one case after another many the most famous entrepreneurs we know have lived their whole lives with this devastating disorder and if you talk to them they will tell you that they succeeded not in spite of this disorder but because of it. that it taught them something about how to deal with the world and that proved to be incredibly valuable -- valuable in their career. there is something very beautiful about those and very moving about those kinds of stories. i tell a couple of them and it's a beautiful illustration of this sort of paradox i am interested in describing which is very often we learn more from our disadvantages than we do from our advantages. >> malcolm gladwell is there any connection between david and goliath tipping point and outliers? >> i wish there were. i wish there were some grand unfolding narrative so i could argue if he owned one you owned one you had to own them all but i don't think there is. i think they happen to be what i was inter
Jul 3, 2013 11:30pm PDT
on the board in the fourth. brandon moss and feast or famine? deficit cut to one. we move to the 9th. the a's down 3-1 and the tieing run at the plate. strikes out to end it. 3-1 the final combined with a texas loss. well, it is always a good test of a team's resolve to see how they resolve after having a no hitter. homer bailey chilling after the no hitter last night. abreu gets the first hit of the game in the opening frame and it gets the biggest hit in the fifth. upper deck, his first of the year. a two-run shot and the giants lead it 2-1. after bailing the giants out of trouble in the bottom of the fifth he hangs a change up and in the bottom of the 6th and it is a 2-2 game and we go to extras. lopez on the mound. look what i found. snags a come backer from philips in the 10th. but he couldn't snag a win in relief. in the 11th, two outs for chu and base hit to right and todd frasier scores and 3-2 the final and giants have won 9 of the last 10. san jose trailing in the 14th minute. throw goals in two games and a double header off the post. second try goes. 2-2 game. 84th minute. the ga
Jun 30, 2013 1:30pm PDT
would be at a deficit, right? i don't believe that that is a good business model. >> so it is salary savings. >> it is 270 would entail that as people leave, that we would not be backfilling certainty, two positions and whether at that time of year that will occur. and the one of the things that we try to do is that we try to perhaps reach an agreement that we met somewhere in the middle, you know, somewhere in the midway here and that was not possible. and the budget analyst refused to reduce... >> and we believe, that it is just not wise for us to say that we are okay with this reduction, and understanding that it would be under funding or currents. >> mr. chairman, and members of the committee, you heard the district attorney state that he is acknowledging that a portion of our cut is correct. he is saying that there could be a compromise, we compromise all of the time with the departments. which you see, during this budget process. and the reason why we didn't agree is because our numbers back up what we are stating. but at the minimum, the district attorney is stating that some
FOX Business
Jul 4, 2013 8:00pm EDT
think we're looking at a higher deficit than we would like in the long run. there's a very important argument about given a shakiness of the economy, how do you phase in that balance. in a sense the deficit is a stimulus to the economy and do we still need that level of stimulus. the medic costs and e idea would be not to argue about the citizen pays for the government pays, but how do you get those increases to be more in line withhe growth of the economy, which they haven't been and it is good fo the government projes those increases, are there things that could be done to get more innovation on cost reduction? there i think we haven't seen enough thinking, certainly wt i see about medical stocks in poorountries is suggestive it is in the efficiency side would be ideal because it is not a zero-sum between citizen versus government. neil: do ever and sion going back to microsoft are more active day-to-da rollcall? or is it enough to keep you jazz and going for the rest of your life? >> i certainly miss being full-time on that stuff, i get to defend spend 15% of my time, but my dedi
FOX Business
Jun 28, 2013 12:00am EDT
employee 22 mmllion that where the kids go to school or a $17 trillion deficit, passing dog frank, a bailout, how much can we be angry about? >> it is all bad bet with direct violation and someone tries to infringe on the fourth amendment those are serious threats in more serious thannthe financial exploitation fifth government is involved in. it is true it is bloated i have been no bigger advocate to but we have to look at our civil liberties reid fatah revolution in the 1700's because of civil liberties violations. john: then we got the fourth amendment because british soldiers go into people's homes to search your most private space. how is looking for patterns like that? >> the problem is the legal theory that any time you use a third-party provider in those papers are electronics so most from modern times that the government uses the false logic fact is available to the public the government has the right because it is no longer private and it is ridiculous john: would you say that 50 terrorist incidents were stacked? >> we don't know it is accurate most is classified but the
Jun 28, 2013 4:00pm PDT
the deficit but in the end, again, nothing reduces the deficit more than investing in education. >> not every democrat is against the concept of tying the rate to another index. the president proposed setting rates each year but making them fixed for the life of the loan. for months has been pushing for action. >> we can't keep saddling young people with debt as they're starting out in live. >> senate democrats want to keep rates in place at least two years retroactive to july 1. >> do you realize americans have more student loan dead than credit card debt? >> a report estimates the rates would add $4500 to the cost of a four-year degree. >> the parents of a 10-year-old girl who received a double lung transplant revealed she underwent the operation twice after the first set of lungs failed. the parents of sarah say the pennsylvania girl is taking some breaths on her own now, suffering from severe cystic fibrosis, her parents went to court to see she can receive lungs from an adult changing rules for all children. >> sarah is not giving up and is a feisty kid. she's going fight through it. thi
Jul 3, 2013 2:00am PDT
whether or not psycho paths have affective deficits. absolutely they do. there has been hundreds of years of psychiatric research shows that they do. you have this two prong thing. on the one hand more dangerous if you release them and don't treat them. on the other hand, they're affectively different. there was a very nice article in the "new york times" magazine on mother's day about children who have these emerging traits and how we would develop and understand and treat them. it's a small percentage. my goal is to develop better treatment so they can keep them off that trajectory towards life course persistent problems. >> are you saying that people that have the brain structure that you have identified will always be lacking in volitional control or impulse receive to the extent that they are criminals? do we have a subset of people that are criminals because of their brains? >> i should really differentiate psychopathy from criminality. there are a lot of reasons why individuals engage in different criminal activity. it's a very small percentage of prisoners that are just about 15 t
Jun 27, 2013 12:00pm EDT
us that this bill doesn't increase our deficit but reduces it over the first ten years by $197 billion, over the next ten years by $700 billion. colorado said, we want a bill that's focused on families and keeping families together. this bill does that by clearing the green card back drog ensuring -- backlog, ensuring family members are able to reunite more quickly. better protection for children in detention in the immigrant court system. and finally, we called for a commonsense approach to the 11 million and this bill does that with a tough but fair path to citizenship for the 11 million. mr. president, like so many people in this chamber, my life story is a story of immigration because i am the son of an immigrant. my mom was born in poland in 1938 while nazi tanks massed at the border. and she and her parents miraculously survived one of the worst human events in our history, the holocaust. and after going to sweden and mexico city, they were able to come to new york city in 1950. my mom was almost 12 years old. she was the only one in the family that could speak any englis
Jul 1, 2013 6:00am EDT
'll have erskine bowles on. i mean, really, we're going to do some power deficit stuff? immigration, we all want to do it, but climate change? where are the things that erskine bowles -- >> no, erskine wants to talk about a proposal out there that will zero-sum all of the tax deductions you can get. >> it's the abenomics linked-in thing. >> abe's speech is about the right thing. i'm sorry, his article. >> the prison where nelson -- okay, i like nelson mandela. >> structural reform. you just don't hear that in the united states. and those are the sorts of things that economists want to hear from abe. they want to hear that they're going to do the qe stuff. they want to hear the fiscal stuff. but really ultimately they want to hear the structural reforms to open up the japanese economy. >> he thinks women need to be promoted in the workplace and integrate them more into the work mace. he brought up the idea of opening their markets. >> fti. >> dan loeb is listening to closely and hearing things like that. i thought it was really kind of a pitch to try and convince investors. i thought it was
Jun 27, 2013 9:00am EDT
on a basis where we are not increasing the deficit. what we are doing is giving students another chance to maintain an appropriate loan level of 3.4% for an additional year. we have to take action to stop the interest rates from doubling. student loan debt is the next big financial crisis facing this country. we already understand from analysts that people in their 20's are putting off home purchases, putting off automobile purchases, are not doing what their parents' generations did because they have so much debt that they cannot move into the economy as their parents did. it's the second-most outstanding household debt behind mortgage debt in the country. it has surpassed credit card debt cht and it is affecting the trajectory of young people's lives. again, my generation thought -- assumed that by the late 20's they'd own a home, they would be in fact perhaps moving on and fixing up and looking at a second home. that's all been changed now. and today's students are really caught between a rock and a hard place because they have all this debt that they must carry forward. the other
Jul 1, 2013 11:00pm PDT
up with a credible plan in the long run so that the markets and the public understand that deficits looking out 15, 20, 30 years are going to be under control. what congress and the white house have done is just the opposite. they've tightened in the short run and done nothing in the long run. >> charlie: over the next ten years the level of debt to g.d.p. is sustainable? >> yes. charlie: right. but that fails to look out to 10 to 20 years. if you're going to get control over the 10- to 20-year period you actually have to start doing some of that stuff now so people have time to prepare for it. >> and that's the big problem is what's going to happen 10 to 20 years from now with medicare and so on. there's no reason except for politics why we couldn't have a short-run stimulus that would be helpful. >> charlie: you blame that on the politics of what? >> the dysfunction in congress. the ideology. >> charlie: is it the dysfunction of one party, of the wing of one party or is it dysfunction in the ability of serious people to find a solution? >> there's an unwillingness to compromise. i
Search Results 0 to 49 of about 225 (some duplicates have been removed)